Notes to SEFA
Title: ENDOWMENT FUNDS
Accounting Policies: The accompanying schedule of expenditures of federal awards includes the federal grant activity of United Service Organizations, Inc., and is presented on the accrual basis. The information in this schedule is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations (CFR) Part 200,Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards.
De Minimis Rate Used: N
Rate Explanation: The United Service Organizations, Inc., has not elected to use the 10% de minimus cost rate allowed under the Uniform Guidance. The USO did not apply any indirect cost rate to the federal awards listed on the schedule of expenditures of federal awards.
The Spirit of Hope Endowment funds are federally restricted for the year ended December 31, 2022 and are considered Federal awards expended during the period. The cumulative balance of federal awards for the Spirit of Hope Endowment is included in the accompanying schedule of federal awards in accordance with Title 2 U.S. Code of Federal Regulations (CFR) Part 200.502, Basis for determining Federal awards expended.